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A Decomposition of Austria's General Government Budget into Structural and Cyclical Components

Kaniovski, Serguei; Pitlik, Hans; Steindl, Sandra; Url, … - 2008

The paper describes a model for computing the trend output and the structural budget deficit in Austria. The calculation of trend output is based on a production function approach within a small macroeconomic model of the Austrian economy. A decomposition of public budgets into cyclical and...

Persistent link: https://www.econbiz.de/10011435231

Business Cycles and Growth: A Survey

Gaggl, Paul; Steindl, Sandra - 2007

The paper surveys the evolution of modern macroeconomic models with the focus on the interrelations between endogenous growth and cyclical fluctuations. After reviewing models of the business cycle and endogenous growth, the paper discusses literature combining elements of both of them.

Persistent link: https://www.econbiz.de/10011435244

The Financial Crisis as an Overshooting Phenomenon

Breuss, Fritz - 2009

Inspired by Dornbusch's model of exchange rate overshooting we develop a theory of stock market behaviour. The idea is … features of the global financial crisis, having its origin in the loose monetary policy in the USA and spreading its recession … leaving aside the complex interactions of the real estate bubble in the USA, followed by the innovation of new financial …

Persistent link: https://www.econbiz.de/10011435247

The Meaning of Entrepreneurship: A Modular Concept

Peneder, Michael - 2009

Entrepreneurship has been characterised as one of the most intriguing but equally elusive concepts in economics. This critical review first surveys its major intellectual roots and then proposes a modular concept of entrepreneurship that preserves its essentially distinctive behavioural,...

Persistent link: https://www.econbiz.de/10011435254

Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage

Rünstler, Gerhard - 2009

The paper extends the Shapiro-Stiglitz (1987) efficiency wage model by endogenising the probability of worker displacement as a function of the change in the firm's employment. This creates counter-cyclical variation in the wage mark-up and thereby generates real wage persistence. A New...

Persistent link: https://www.econbiz.de/10011435271

Employment, Inflation and Income Distribution in an Open Economy. Pricing-to-market in a Modified NAIRU Model

Ederer, Stefan - 2010

The paper modifies a standard NAIRU model by implementing "pricing-to-market" as the basic assumption for the price setting behaviour of firms in an open economy. This entirely changes the outcomes of the model: First, inflation in equilibrium is stable at any rate of unemployment; the long-run...

Persistent link: https://www.econbiz.de/10011435299

An Intertemporal Optimisation Model of Households in an E3-Model (Economy/Energy/Environment) Framework

Kratena, Kurt; Wüger, Michael - 2010

This paper deals with the total CO2 impact of households in a simple dynamic E3 model (economy/energy/environment), comprising a model block of private consumption and an input-output model. The consumption model describes the demand for different durables and nondurables, derived from...

Persistent link: https://www.econbiz.de/10011435324

Direct Versus Indirect Approach in Seasonal Adjustment

Scheiblecker, Marcus - 2014

With seasonal adjustment one has to decide whether to seasonal adjust an aggregate like GDP directly or to sum up its seasonally adjusted components. This choice is usually driven by subjective motives or practical convenience. In the case of seasonal adjustment with chain-linked data one might...

Persistent link: https://www.econbiz.de/10011435390

Macroeconomics, Financial Crisis and the Environment. Strategies for a Sustainability Transition

Antal, Miklós; van den Bergh, Jeroen C.J.M. - 2014

We raise fundamental questions about macroeconomics relevant to escaping the financial and economic crisis and shifting to a sustainable economy. First, the feasibility of decoupling environmental pressure from aggregate income is considered. Decoupling as a single environmental strategy is...

Persistent link: https://www.econbiz.de/10011435400

Modelling the impact of direct and indirect taxes using complementary datasets

Savage, Michael; Callan, Tim - 2015

Comprehensive modelling of the impact of taxes and tax policy options requires data on the impact at micro-level of both direct and indirect taxes. There are, however, limits on the amount of data that can be gathered by any one survey. With some exceptions, most notably the Living Costs and...

Persistent link: https://www.econbiz.de/10011440362